How well are you managing your market data vendor duing for your high frequency trading systems?
Regulatory reform, competitive pressures and the need to optimize data across the enterprise are pushing custodians, service providers, consultants and securities firms to constantly refine their reference data management strategies. As their strategies evolve, all players in the operations matrix will have to hone their relationships with their market data vendors, which should be collaborative but often aren’t.
In my opinion there is only one way to manage data vendors in a profitable way and this is to make data interchanghable. Building a unique source able to provide data from different information providers in a unique output format, the original one used by your enterprise, you can get data from different providers without changing target applications. For reference data there are several companies offering unique data source, i.e. Asset Control, Golden Source and Smart Co..
For real time data normally applications are fed from Reuters RMDS in FID format (Reuters one) and only solution I know is Consensus Iperlink R/T.
For specific data, i.e. credit derivatives, credit ratings and scoring, balance sheets and so on there is not a ready to use unique source.
NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!